Easy Office
LCI Learning

Housing loan

This query is : Resolved 
Profile Image

Profile Image

(Querist)
06 December 2012 Hello,
X is father of Y. They both are co-owners of a property. they took a loan from bank. Y is paying full EMI of loan. So, My question is that whether Y is eligible for claiming full deduction of under section 24.
Profile Image

PARDEEP KUMAR AGGARWAL

Profile Image

PARDEEP KUMAR AGGARWAL (Expert)
06 December 2012 if X is dependent on Y, in that case you can claim the full amount u/s 24 and 80C (for interest & principal respectively).
Profile Image

Shikha Jain

Profile Image

Shikha Jain (Querist)
06 December 2012 If X is not dependent on Y & filing his own return then what will be the situation.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Soumitra Basu

Profile Image

Soumitra Basu (Expert)
08 December 2012 BOTH THE PERSON SHALL GET THE DEDUCTION EQUALLY IRRESPECTIVE OF WHO IS PAYING.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links